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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (62154)	3/15/2000 12:48:00 AM
From: dfloydr	Respond to of 95453

Anyone else notice this morning's weather reports. Several announced that average temperatures across the US have run some seven degrees higher than "normal" for the past week. During this time gas has moved from around $2.50 to just over $2.80. Hmmm....

To: Tomas who wrote (62154)	3/15/2000 1:06:00 AM
From: Tomas	Read Replies (1) \| Respond to of 95453

Oil Companies Explore Pros And Cons Of Trading Product On The Web Financial Post, March 8 Point, click and trade. The three words that rocked the world promise to revolutionize oil markets, too. Oil is already in turmoil, with the price for a barrel of crude climbing above $32 (all figures in U.S. dollars), the highest it's been since the 1991 Gulf War. But the classic supply and demand drama that's shaking oil may come to seem trivial compared to the Internet's impact over the next few years. The future of oil trading is online, oil companies and commodities exchanges agree. Now they've got to figure out how to put it there. "E-commerce is spinning us in so many different ways. Companies are making a serious effort to understand it and build it into their business," said Art Nicolleti, president of Equiva Trading Co., the trading arm of a joint venture of Shell Oil Co., Texaco Inc. and Saudi Arabian Oil Co. Several major energy companies are putting substantial capital into plans designed to move trading online. Equiva Trading has invested more than $6-million in Houstonstreet.com, a energy trading site, to which the company hopes to migrate all of its seven million barrels a day of oil trading. Texaco has bought a minority stake in TradeCapture.com, and will use the e-commerce platform to trade crude oil refined products internationally. After Houston energy brokerage International Energy Partners LLC clients asked for faster, cheaper and more reliable ways to make money trading petroleum, the company launched NRGLine.com in January, for refined-product trading. The race to trade barrels online has also attracted the New York Mercantile Exchange, the world's largest energy futures market. Nymex is considering offering a one-stop e-commerce site where traders can buy crude oil and products and offset the risk attached to those deals by trading futures. A mouse-click might eliminate the numerous phone calls traders now make to find the right grade of crude oil at the desired price. Oil e-trading also could increase price discovery, by allowing traders to look at bids and offers on a screen, rather than having to feel out where the market's going via a phone handset. There are serious stumbling blocks to making such a system work in the energy market, however, not the least of which is getting Web sites liquid enough to make trading worthwhile.